Magarditch v Australia & New Zealand Banking Group Ltd (ACN 005 357 522) [1999] FCA 35

Magarditch v Australia & New Zealand Banking Group Ltd (ACN 005 357 522) [1999] FCA 35

None of the applicants' claims against the bank or liquidator raised arguable issues, as all relevant matters had been litigated previously or were without evidentiary foundation. Leave to prosecute in Magic's name and leave to amend for an inquiry were refused, and motions dismissed.

Jurisdiction
Australia
Judgment Date
29 January 1999
Procedural Posture
Corporations Law Proceeding / Ruling on Leave to Prosecute in Company Liquidation and Inquiry Into Liquidator's Conduct
Outcome
Applicant's motions dismissed
Legal Topics
['liquidator Duties' 'leave to Prosecute in Name of Company' 'negligence' 'res Judicata' 'fraud' 'inquiry Into Liquidator Conduct']
['corporations' 'bankruptcy' 'civil Procedure'] ['liquidator Duties' 'leave to Prosecute in Name of Company' 'negligence' 'res Judicata' 'fraud' 'inquiry Into Liquidator Conduct']

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Procedural Posture

Corporations Law Proceeding / Ruling on Leave to Prosecute in Company Liquidation and Inquiry Into Liquidator's Conduct

Legal Issues

  1. 1 ['Whether leave should be granted for a director/shareholder to prosecute claims on behalf of a company in liquidation' 'Whether sufficient grounds exist for an inquiry into the conduct of a liquidator under the Companies Code' 'Whether claims of fraud/conspiracy against bank and liquidator are arguable' 'Whether prior judgments can be impeached on grounds of fraud']

Ratio Decidendi

None of the applicants' claims against the bank or liquidator raised arguable issues, as all relevant matters had been litigated previously or were without evidentiary foundation. Leave to prosecute in Magic's name and leave to amend for an inquiry were refused, and motions dismissed.

Court Disposition

Applicant's motions dismissed

Orders

  • ['The motion that leave be granted for the second applicant to act on behalf of the third applicant in prosecuting the claims against the first and second respondents made in the further amended statement of claim be dismissed.' 'The motions that the Court inquire into the conduct of second respondent as liquidator...